The Executive Board of the International Monetary Fund (IMF) has decided to allocate $280 million to Armenia to fight against the novel coronavirus, the fund said in a press release.

“The IMF Executive Board decision allows an immediate release of US$280 million for Armenia,” the statement noted in particular.

The IMF added that, “The augmentation of access will help the authorities contain short-term risks and will provide resources to meet the urgent human and economic implications of COVID-19 pandemic.”